FXGM ZA Broker Review 2021-A Complete Guide
Are you trying to find a well-reputed brokerage company in South Africa to kick start your trading journey but confused about choosing one? If yes, then this article can surely assist you. In this FXGM review, we will discuss the details about FXGM that will help you make the right decision. So, without wasting any time, let’s dive straight into the article.
Regulation of FXGM ZA
FXGM South Africa is regulated by the prestigious FSCA( Financial Sector Conduct Authority). Furthermore, they have a license from FSP, and the authorization number is 50202. All these things depict that FXGM is no scam and fraud but regulated by a good regulatory body.
What products can be traded on FXGM?
When it comes to products, it is worth mentioning that an extensive range of instruments can be traded on this platform. It has more than forty forex currency pairs, famous South African and US stocks, hard and soft commodities, and nine leading global indices. Furthermore, if you want to trade crypto, you can do that too, and six cryptocurrencies are allowed on this company. All these instruments are readily available in every account.
What are the commission and fees of FXGM?
It would help if you kept in mind that FXGM ZA is an STP broker, so the offers related to variable spread can change depending on the market conditions. However, the actual cost and pricing can be evaluated by the account type that you are utilizing.
Additionally, another fee is charged at the platform of FXGM named as administrative fees. According to the company’s official website, if your account remains inactivated for three months, then the company has the right to charge you a fee of $500 that will be assigned to you every quarter. In addition, if your account balance is less than $500, then the company will charge you less amount to cover the administrative fees and close your account.
Bonus and Promotions
The FXGM ZA broker’s PROfit account does not give the facility of the demo account. This platform allows every client an ample opportunity to earn a profit with the assistance of protected trades, and the good thing about it is there is almost no risk involved. Additionally, the initial protection from loss position relies on the amount that you have deposited initially.
Deposit and Withdrawal
If you are a client of FXGM, you can get a wide range of options for depositing and withdrawing funds. But it is better to go for the options widely used by the customers to ensure a safe transaction, and the chances of any complications are more petite. Some famous options available on FXGM are PAYGATE, Credit Debit Cards, EFT pay, Bank transfers, OZOW, and Skrill. If you want to create a first-grade retail account, the minimum deposit you need is $200.
How does FXGM support its customers?
FXGM gives primary importance to their clients and greatly cares about their comfort and easiness. You can consult the company by sending them a message on their Facebook page. Furthermore, you have the choice to consult them either by calling or by sending an email.
Final Words
To sum up the article, we would like to say that FXGM is a well-known brokerage company in South Africa. But bear in mind that before investing your money, it is highly significant to do proper market research and comprehend all the essential terms; otherwise, you may have to lose your money.
